BREAKING: Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

[lanlady]

Source: NY TIMES

Just breaking on the NYT site.

Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trump’s businesses were in far bleaker condition than was previously known.

Read more: https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html?action=click&module=Top%20Stories&pgtype=Homepage

[htuttle]

1. Let's compare those numbers with the ones he handed other banks and insurance companies

Betcha they told a completely different story when he was asking for a loan, or proving financial soundness.

[lanlady]

29. yep!

It all smells of massive fraud from the Con Man in Chief. He's been lying to financial institutions and the IRS for his entire life.

[Marthe48]

68. Could he play both ends against the middle?

Actually make money, but cook the books to avoid taxes? And use other cooked books to get money from the banks, and just never give up a penny in taxes or interest if he could avoid it? What yours is mine and what's mine is mine.

[Eliot Rosewater]

76. Maybe, but remember he really is the dumbest adult alive, worst businessperson who ever lived

[groundloop]

91. I think we'd be making a mistake to underestimate Tiny..... if nothing else he's a shrewd conman

I can totally see him saying one thing on his tax returns to avoid paying taxes, and putting out something totally different with which to obtain loans and impress potential partners and clients.

[Laura PourMeADrink]

101. Exactly what Cohen said he did. It was like a game

Pulling real estate valuations out of their asses.

[dameatball]

111. Right. And that is how his followers will still claim he was being smart.

[SayItLoud]

119. X1000 agree. nt

[SayItLoud]

118. I agree with your line of thinking. This KKKon plays

every angle if there is a penny in it for himself. I would NEVER believe his tax returns. It's only when they are compared to loan applications and payments that they would mean something. He would never file a return where he had to pay taxes unless it benefited him in some way.
That sudden $59 million "interest income" might be a loan from his father, family or very likely Russian Oligarch" but it sure isn't interest income.

[Hekate]

127. That is exactly how his family business was set up by Fred Trump & refined by Don & siblings

If I understand correctly, that is a feature, not a bug.

[More_Cowbell]

129. Today Forbes released, online, its 1990 story about removing Trump from the Forbes 400

https://www.forbes.com/sites/danalexander/2019/05/08/why-we-took-trump-off-the-forbes-400-during-his-decade-of-tax-losses/#2e8202bc33d9

[coeur_de_lion]

131. great find thanks for posting!

I like this quote:

Clearly, Trump badly needs an additional source of coin on the realm.

Uncle Vladimir to the rescue!

[Chin music]

2. WoW!!!

That gets us to 94'. Keep it up. Work backwards from 2018 maybe??

[Laura PourMeADrink]

102. Funny

[DeminPennswoods]

3. LOL! Soon there won't be enough

fingers in the entire Trump cult to plug all the holes in the dike.

[applegrove]

4. We knew that. Sort of. We knew in the 90s Trump was more valuable

to american banks alive than forrclosing on his properties. It is a calculation the banks made to keep him in business so they could try to recoup their $$$.

[applegrove]

15. The year Art of the Deal came out he lost 4 million dollars. Out of the 10 years that

was his best year.

[Duppers]

5. Wow!!!! 1 Billion loses.

We *knew* he was lying.

[trueblue2007]

41. Liar in chief ......

[John Fante]

98. Nice smile, Dotard. Positively Gacy-esque.

[SergeStorms]

81. But then.....daddy died.

And "the greatest businessman in the world" was flush with cash again*.


*After he and his siblings swindled the government out of any estate taxes owed, that is.

[Laura PourMeADrink]

103. What year did his father die? Was inheritance ever announced?

[SergeStorms]

107. He died in 1999.

But his assets, which were more than considerable, were transferred before he died. It's said that Donnie himself inherited over $400 million. They transferred the properties in such a way that they were not taxed, or taxed very lightly, illegally - of course - between Donnie and his siblings. Donnie's sister was a federal judge and could have been disbarred for the shenanigans pulled when they divided the estate. She recently "retired" from her judgeship to avoid an investigation that was already underway into the Trump family finances. They're all crooks and swindlers.

[BigmanPigman]

6. Holy Shit!

CNN is about to announce this news!

[Duppers]

7. Cross post in GD, please.

TY! 🙏

[lanlady]

30. will do!

[NightWatcher]

8. In 1991 he lost 1% of what the entire country lost

Link to tweet

[tinrobot]

9. Art of Losing the Deal

What a moron.

[brewens]

10. Promises kept! Running the country just like he did his businesses. n/t

[Tech]

11. Anyone know what that would be in today's money?

Maybe 2.3 billion per google? Inflation from 1985 of 123.05%?

[DeminPennswoods]

115. If 1994 is the base year, it's 1.72B

as US inflation from then to today is 71.2%. If 1984 is the base year, then the loss is 2.45B with total inflation at 144.7%.

Link to calculator: https://www.usinflationcalculator.com/

[mucifer]

12. I was hoping to hear about more criminal activity

[Harker]

93. You will. n/t

[ProudProgressiveNow]

13. KR NT

[kairos12]

14. The Biggest Loser.

[wolfie001]

16. No sleep for Red Don tonight!

[The Velveteen Ocelot]

17. Waiting for the rage-tweets...

Fake news! No collusion! Fake collusion! No news!

[ProudMNDemocrat]

18. Can we say...Tax Fraud?

No wonder he does not want his more recent returns exposed. Trump is in debt to Russia a d Putin.

[livetohike]

19. So is that when he decided to launder money for the

Russian mob?

[maddogesq]

31. BINGO! Nt

😎

[mobeau69]

20. He lost more than twice the #2 biggest loser!

He IS the biggest loser.

[lagomorph777]

124. Well, there's one big accomplishment for him.

[woodsprite]

21. Yeah, but is it really "losses", or just reported losses

So he could get every tax break possible?

[spooky3]

22. The last paragraph is priceless. nt

[forgotmylogin]

90. Billionairn't. (n/t)

[Laura PourMeADrink]

104. +1

[Jarqui]

23. As NY Times previously reported, he lost another $915.7 million in 1995

https://www.nytimes.com/interactive/2016/10/01/us/politics/donald-trump-taxes.html

Nearly $2 billion in losses in 11 years.

Is it any wonder that the Russians own him?

[Pepsidog]

24. Didn't we know this from the return he leaked from 2005, I think

[DrToast]

36. That was only one year.

Someone could book loses in one year and still be successful. But 8 losing years out of 10? He sucks at business.

[Pepsidog]

49. By every metric he is a loser of a businessman. He is a master con man and carnival barker.

[3catwoman3]

99. And THAT is...

...ALL he is.

[2naSalit]

25. That proves it... LOSER45!!

Now that this is out, as I said earlier today, put on your ponchos, the shit is now hitting the fan.

repeat: THE SHIT IS NOW HITTING FAN, TAKE COVER AND PUT ON YOUR PONCHOS!

[sarcasmo]

26. In the Red, keeps with the Red Russia theme.

[llmart]

27. Am I missing something here?

Did he really "lose" the money or did he report higher losses than he actually had so that he would have to pay zero dollars in taxes?

[brush]

50. He lost big money. Remember trump airlines? It went belly up in that time period. That's just one...

example of his losses, and you know it takes millions to buy and maintain airplanes.

[DeminPennswoods]

114. He lost money, but, if I understand

the tax code correctly in his case, he was able to carry forward prior year losses to offset his income in subsequent years.

[gristy]

28. Yeah, this is breaking, I'd say.

And is a very big deal. The description in the article of how they pieced together this info is really something.

While The Times did not obtain the president’s actual tax returns, it received the information contained in the returns from someone who had legal access to it. The Times was then able to find matching results in the I.R.S. information on top earners — a publicly available database that each year comprises a one-third sampling of those taxpayers, with identifying details removed. It also confirmed significant findings using other public documents, along with confidential Trump family tax and financial records from the newspaper’s 2018 investigation into the origin of the president’s wealth.

[Duppers]

32. Wow! Great journalists!

Thanks.

[Marthe48]

74. 2 of the writers won Pulitzers

this year for a previous investigation on trump finances. April 2019.

https://www.nytimes.com/2019/04/15/business/media/nyt-pulitzer-prize-winners.html

[Duppers]

78. Very deserving journalists!

Thank you!

[DrToast]

35. Amazing work! Kudos to NYTimes.

[DrToast]

33. He's not in bed with the Russians! He's broke!

Spread the word. Every candidate should be talking about how Trump is a trust fund failure at business.

[mucifer]

39. he's in bed with the russians BECAUSE he is broke.

[DrToast]

45. Good point! Agree.

[nitpicker]

109. +1

[Duppers]

79. Absolutely! nt

[fierywoman]

34. It's worth using one of your ten free NYT articles just to bask in the pithy writing!

[mobeau69]

44. It's worth clearing your history to start over again if need be.

[fierywoman]

52. Ummm ... Luddite old lady here. How do you do that?

[mobeau69]

58. Depends.

Search help for history or google it.

Warning: If you clear all history you'll have to re-enter passwords for sites like DU and possible others.

[littlemissmartypants]

59. Use the drop down menu and look for your browsing history.

Click on it and then clear history and it should give you a clean start. It will however require that you log in again.

[Marthe48]

69. I use Google to access my history

then do a search for the items I want to get rid of. then delete the items returned from the search.

[fierywoman]

84. Thank you and xoxo's to all three of your for the info!

[earthside]

37. Trump is a phony!

Trump has lied over and over and over again to the Trumpicans and to all Americans.

He's a fraud; a con man.

Trump is a phony.

[ffr]

43. Liberals can hold our heads high. We were 100% dead on!

We were right.

The Fox watching drones are completely 100% dead wrong! The tRump regime is a fraud.

[Laura PourMeADrink]

105. Ya and they may never even know of this. I flipped

Fox on and they were talking Obama spying on trump

[ffr]

38. 1% of all losses individual taxpayers reported to the I.R.S in 1991 came from individual, Trump.

The newly revealed tax information sheds light on how those net operating losses snowballed. By 1991, they had grown to nearly $418 million, accounting for fully 1 percent of all the losses that the I.R.S. reported had been declared by individual taxpayers that year. And the red ink continued to accumulate apace. - NYT

[Glimmer of Hope]

40. Loser! Bigly,

"In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer..."

[Vogon_Glory]

42. Trump The Great Businessman?

Donald Trump, the great businessman? I’m not surprised that his fortunes took a licking when his airline went bust, but how in Sheol and Gehenna can anyone think this guy is a competent businessman and administrator?

Trump the great businessman ought to be placed alongside other right-Wing BS memes like Trump the great negotiator and Trump the great Christian, and pulled out as triggers for mockery when some right-Wing doofus or other starts yakking about how great their boy is.

EDIT: Seriously, canyou imagine the howls of laughter and derision from corporate mainstream pundits as well as right-Wing propaganda organs if one of our guys made business decisions this reckless and disastrous?

Of course Donnie is a Republican so it’s IOKALAYAAR from the right-Wing propaganda organs and “both sides” from the arrogant, lazy-a$$ “lame-stream” pundits.

[Jedi Guy]

92. Because he had a reality TV show! - Trump Voters, Probably

Trump had all the trappings of wealth and success with none of the substance. People who stopped and thought about it for more than a moment figured out that he was a phony. Those who didn't were taken in by his act.

The sad thing is that so many of those people know they were hoodwinked, but are so embarrassed that they won't admit it. Instead, they'll double down in their support and insist that it's fake news.

[GetRidOfThem]

123. Let us not forget that Trump was very willing to share all of his business acumen

to those that were willing to pay a fortune to Trump University! (some went bankrupt because of the fees, I am sure...)

[klook]

46. Loser!!

What a putz! So during a mostly good economic period, he managed epic losses... how did this schmuck maintain his lavish lifestyle??

[Marthe48]

71. I bet he doesn't tip

dine and dash?
I forgot my wallet. Or credit cards. Put it on the tab (then say I wasn't there that night and you can't prove otherwise) and so on.

[jmowreader]

89. Why do you think he eats McDonald's?

There's probably not a steakhouse in Manhattan, except maybe Tad's Steaks (which is not a well-respected institution), who will serve Donald Trump. And it's hard to blame them.

[DeminPennswoods]

116. Reportedly he eats at McD's because he's a germophobe

and believes that surprise visits to fast food places don't give anyone enough time to mess with his food.

[Evolve Dammit]

47. Let's consider this just one piece of the legacy of a career liar and criminal and con-artist.

The rest include...obstruction of justice, campaign fraud and abuse, attempted collusion with Russia, money laundering, misrepresentation on financial documents, conspiracy, adultery, emoluments violations, alleged underage sexual contact, and so on and so forth... Time for impeachment and sworn testimonies to start.....NOW! Also time for those who know the facts to come forward.

[Marthe48]

132. We turned the channel from the first time we saw him on the news

MSM loved him. The camera doesn't love roger stone, or others pulling the strings and fouling the water. After information arose last year, records about the way trumps did business, I will forever wonder why these slimy crooks weren't stopped in the 70s, 80s or 90s.

[Evolve Dammit]

133. I wonder that as well. The corruption is staggering, largely because the odds on getting caught are

slim. It seems regardless of the crime, there is not enough enforcement as a deterrent. Trump has milked it to an art form. Manafort is a rare example of someone who got caught. Stone will find out in November.

[milestogo]

48. WHO IS THE BIGGEST LOSER?

Asshole.

[IggleDuer]

51. Ironic, isn't it?

This report came from the “Failing New York Times”

Cheating Don sure knows failure.

[WhiskeyGrinder]

53. HILLARY FUCKING TOLD US ALL.

[rurallib]

54. Almost beyond my comprehension - he lost ONE HUNDRED MILLION DOLLARS A YEAR!

$100,000,000 - Jesus Christ what a loser!

[Gregory Peccary]

62. That's just stunning

Losing $274,000 per day, every day for 10 years. How do you do that?

[rurallib]

63. good thing he worked for himself

some bosses might have fired him for that.

[rurallib]

55. If NY AG Letitia James got these returns she ought to be Time's

"Man of the Year" right now.

[AJT]

56. Wow, that was back when 1 billion dollars was a lot of money...

[DrToast]

57. Now we know why he wanted to be President!

He needed a job. 😂

[TomSlick]

60. I'm betting a lot of these "losses" are tax fraud.

Remember, sister dear had to retire from the federal bench to stop an ethics investigation into the Trump family tax fraud.

[Duppers]

86. Good point. Tax evasion/ tax fraud.

David Cay Johnston agrees.

See: https://www.msnbc.com/hardball/watch/david-cay-johnston-trump-is-a-criminal-level-tax-cheat-59139141969

[calimary]

61. The Fart of the Deal. All hot air and a mighty bad smell.

Last edited Tue May 7, 2019, 11:34 PM - Edit history (1)

There you have the donald trump story.

[maddogesq]

64. I like the old cowboy saying:

“He’s all hat, no cattle.”😎

[calimary]

96. That, too!

It applied perfectly to dubya, who always swaggered around like he was bow-legged wearing big cowboy chaps. But he was afraid of horses!

[still_one]

65. Didn't Mark Cuban say this about trump in 2016?

[Marthe48]

73. Ann Richards said it about bush jr

in 2004

[mcar]

66. Kudos to the Times

What a report!

[Hotler]

67. Maybe they are false losses to pay no tax. nt

[meow2u3]

70. You're probably onto something

Where's a forensic accountant when we need one?

[Hekate]

130. FBI & CIA both employ forensic accountants as agents/analysts. Just one more reason for ...

...Red Don to fear them and try to destroy those agencies.

On Edit: Sure looks like major newspapers like the NYT have journalists with a similar skillset. Which is just another reason for Red Don to fear and try to destroy etc etc.

[Thekaspervote]

72. He had income of 52.9 mil in 1991 generated from stocks bonds investments etc

But it appears at that time he did not have enough investments to be earning that kind of money... is this when he began his Russian money laundering gig??

[zentrum]

75. Yeah---and

...he's using the Presidency and the new tax code to recoup that.

[Dawson Leery]

77. Oh look, Hillary is right, ONCE AGAIN!

A failure, a cheat, living off the taxpayer.
In Donnie Trump's 73 years, he has nothing to show for it. He destroys everything he touches.

[Blue Owl]

80. Bwah Fucking HA HA HA HA HA!!!

[Stuart G]

82. k and r. nt.

[durablend]

83. And tomorrow's headline

"TEHRAN LEFT IN RUBBLE"

The president was quoted as saying "It didn't have to be this way, DEMS"

[at140]

85. 4 banruptcies by Trump is proof...nt

[dalton99a]

87. "Trump appears to have lost more money than nearly any other individual American taxpayer"

The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.

The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.

Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.

[DeminPennswoods]

88. Finally! We found the one thing Trump really is

great at - consistingly losing more money per year than any other individual taxpayer in America!

[dixiegrrrrl]

94. He's a loser in every aspect of his entire life......

Totally bullshit empty suit, a hollow man, creating a fake world to live in, with perpetual lies and bluster.

The only thing about him that is real is his capacity for dishonesty.

[JohnnyRingo]

95. Good but lengthy read.

Thanx for posting.

[Progressive2020]

97. Worst President In History

Trump will go down in history as the worst President ever, beating out Richard Nixon for the title. Trump is corrupt, a liar, a con man, and a cheat. He might be the first President to ever serve jail time.

I think when his taxes and finances are exposed, you will see that his "business" was always built on debt, credit, bankruptcy, and fraud. Trump likes to call media "Fake News", but he is a "Fake Businessman".

I look forward to the day when he and his lackeys are indicted and Trump's name is consigned to the ash heap of history. His name will rank up there with villains like Benedict Arnold, Boss Tweed, and Richard Nixon- all despicable figures from American History.

[CountAllVotes]

100. Stable genius

My arse!!

Dump da chump!

[Beartracks]

106. "The Apprentice" had to craft Trump's mythic image from whole cloth.

He was anything but a "successful businessman."

=========

[sarabelle]

108. Like every organized crime figure, I am sure he exagerated his losses to scam paying less tax.

These kind of criminals have it both ways. Cohen told us so. So what is so hard to understand about it?

He inflates to get loan, he deflates to scam taxes.

[Cha]

110. Who didn't see that

coming?

[duforsure]

112. This what a corrupt criminal con man and illegitimate

President looks like getting exposed. That's why he's scared of his taxes getting fully exposed, people will realize he did nothing but lie,and promote propaganda.

[Honeycombe8]

113. I'm dying to know HOW the NYT got hold of this. Enquiring minds want to know.

That's remarkable. REMARKABLE.

[Vinca]

117. If the bankers hadn't let him get away with his "sport," we wouldn't be in this mess now.

8 of 10 years most of us paid more taxes than the faux billionaire.

[Blue_Tires]

120. But all the conservatives have been telling me for years he's a financial genius?

Nice to see that in an era when it was damn near impossible to LOSE money, ol' Donnie lost more than anyone in recorded history...

[Oneironaut]

121. How do people not understand that this is all a con?

The President is a con artist. He was from the beginning. How glaringly obvious does it need to be for even half the populace to understand that?

[Blue_Tires]

122. LOL at that!

Link to tweet

[blue neen]

125. Billion Dollar Loser

That's Trump to a T.

[Hekate]

126. I love the smell of printer's ink in the morning. All hail the First Amendment & kudos to the NYT!

[oldsoftie]

128. I've long said trump wont release his taxes because they'd embarrass him,

not because of any Russians.
He isnt nearly as rich as he says, and he doesnt make nearly the money he says either. That becoming a known and undisputed fact to his followers would be a gut punch to him.